SilverCrest Metals (NYSEAMERICAN:SILV) Trading Up 3.2%

SilverCrest Metals Inc. (NYSEAMERICAN:SILV) was up 3.2% during mid-day trading on Wednesday . The stock traded as high as $7.19 and last traded at $7.17. Approximately 408,806 shares changed hands during trading, a decline of 72% from the average daily volume of 1,438,809 shares. The stock had previously closed at $6.95.

Analysts Set New Price Targets

SILV has been the subject of several recent research reports. Scotiabank boosted their price objective on SilverCrest Metals from $7.00 to $7.50 and gave the stock a “sector outperform” rating in a report on Monday, April 8th. Desjardins cut shares of SilverCrest Metals from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th.

SilverCrest Metals Stock Performance

The company has a market cap of $1.11 billion, a price-to-earnings ratio of 9.15 and a beta of 1.32.

SilverCrest Metals (NYSEAMERICAN:SILV) last announced its quarterly earnings results on Monday, March 11th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.09. SilverCrest Metals had a return on equity of 33.11% and a net margin of 47.62%. The business had revenue of $61.32 million during the quarter. Equities analysts anticipate that SilverCrest Metals Inc. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc lifted its holdings in shares of SilverCrest Metals by 1.7% during the 4th quarter. CIBC Asset Management Inc now owns 189,825 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,186 shares during the period. Mariner LLC lifted its holdings in shares of SilverCrest Metals by 32.5% during the 3rd quarter. Mariner LLC now owns 18,683 shares of the company’s stock worth $82,000 after acquiring an additional 4,581 shares during the period. Anchor Investment Management LLC bought a new stake in shares of SilverCrest Metals during the 4th quarter worth approximately $33,000. Principal Securities Inc. bought a new position in SilverCrest Metals in the 4th quarter valued at approximately $33,000. Finally, Versor Investments LP lifted its stake in SilverCrest Metals by 20.5% in the 4th quarter. Versor Investments LP now owns 31,700 shares of the company’s stock valued at $208,000 after purchasing an additional 5,400 shares during the last quarter. Institutional investors and hedge funds own 44.75% of the company’s stock.

SilverCrest Metals Company Profile

SilverCrest Metals Inc engages in the acquiring, exploration, and development of precious metal properties in Mexico. The company primarily explores for silver and gold properties. Its focuses on principal property the Las Chispas Mine that consists of 28 concessions totaling of approximately 1,401 hectares located in Sonora, Mexico, as well as operates a portfolio of El Picacho, Cruz de Mayo, and Angel de Plata properties in Sonora Mexico.